AMI Investment Management Inc. Has $4.25 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

AMI Investment Management Inc. lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,807 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,266 shares during the quarter. Micron Technology makes up approximately 1.7% of AMI Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. AMI Investment Management Inc.’s holdings in Micron Technology were worth $4,251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Micron Technology by 411.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock worth $763,398,000 after purchasing an additional 12,286,893 shares during the last quarter. Norges Bank acquired a new stake in Micron Technology during the 4th quarter worth about $581,559,000. FMR LLC grew its holdings in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the period. Morgan Stanley grew its holdings in Micron Technology by 59.2% during the 4th quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock worth $709,006,000 after acquiring an additional 5,274,984 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $83.63, for a total value of $585,410.00. Following the sale, the chief executive officer now directly owns 651,759 shares in the company, valued at approximately $54,506,605.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 264,000 shares of company stock valued at $26,368,640 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Wedbush lifted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Needham & Company LLC raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Evercore ISI raised their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, December 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.69.

Micron Technology Trading Down 1.1 %

Shares of Micron Technology stock opened at $117.89 on Friday. Micron Technology, Inc. has a twelve month low of $56.01 and a twelve month high of $122.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company’s 50 day moving average is $91.35 and its 200 day moving average is $80.65.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company earned ($2.03) earnings per share. The firm’s revenue was up 57.7% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.